I am quite new to quickbooks and accounting. Please could someone help me with setting up an interest only mortgage in the accounts and then tell me where the interest payments go to. Any help would be appreciated
Hello Suziejg, thank you for reaching out to the Community. Are you looking to record the mortgage as a liability? If so, here is a help article to help record a loan, then add the balance in QuickBooks, which also shows how to record repayments on the loan.
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